Liberty Square Wealth Partners LLC Acquires Shares of 1,999 QUALCOMM Incorporated (NASDAQ:QCOM)

Liberty Square Wealth Partners LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,999 shares of the wireless technology company's stock, valued at approximately $307,000.

Other hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after acquiring an additional 4,955 shares during the period. Howard Bailey Securities LLC purchased a new stake in QUALCOMM in the 4th quarter worth approximately $240,000. Greenup Street Wealth Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at about $2,256,000. Teza Capital Management LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $1,541,000. Finally, Purkiss Capital Advisors LLC purchased a new stake in QUALCOMM during the fourth quarter valued at about $303,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 425,068 shares of company stock worth $8,418,305. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 2.0%

Shares of QCOM stock traded down $2.94 on Friday, hitting $145.40. The stock had a trading volume of 3,252,573 shares, compared to its average volume of 8,783,533. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $159.65 billion, a PE ratio of 15.51, a P/E/G ratio of 2.01 and a beta of 1.29. The business has a 50 day moving average price of $144.60 and a 200 day moving average price of $155.74. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $2.44 earnings per share. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.45%. QUALCOMM's payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on QCOM shares. Susquehanna dropped their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Loop Capital lowered their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Benchmark decreased their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $192.08.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.